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Pan Africa Insurance HY 2014 earnings down 51%

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muganda		#1 Posted : Friday, August 08, 2014 12:02:03 PM
Rank: Elder Joined: 9/15/2006 Posts: 3,907		I read this Pan Africa Insurance Holdings with disbelief. Then I remember why Peter Lynch suspects businesses growing by over 50%, due to the one-off shenanigans. How does this company grow 267% last HY 2013, 108% full year 2013, then just saddle us with a - 51% HY 2014 result. Net written premiums up 32% Total income up 10% Net claims adverse up 31% Profit before tax down 42% Earnings down 51% https://www.nse.co.ke/listed-com...-ltd-half-year-results
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VituVingiSana		#2 Posted : Friday, August 08, 2014 1:10:34 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,358 Location: Nairobi		Well @muganda Insurance Firms have 'volatile' earnings so you need to deduct the one-offs from their results. Some like Jubilee, are conservative in locking/reporting unrealized gains so an 'excellent' year is shown as a 'good' year while a 'poor' year can be juiced up. BTW, I like Jubilee & the management is an honest so please don't take this as a criticism. Read Warren Buffett on earnings of Insurance Firms and why you have to look long-term or average not on Quarterly or Annual performances . Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Mastermind		#3 Posted : Saturday, August 09, 2014 12:23:05 AM
Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley		muganda wrote: I read this PanAfrica Insurance Holdings with disbelief. Then I remember why Peter Lynch suspects businesses growing by over 50%.. Not surprised. That growth rate was unsustainable. If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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murchr		#4 Posted : Saturday, August 09, 2014 3:18:47 AM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		hisah #14 Posted : Tuesday, March 04, 2014 4:17:10 AM wrote: Like I stated in the wazua group a few weeks back, this thing is a sell the news and I sold ahead of the news. As long as NSE remains choppy insurance firms that count on equity performance will get a rough income shave. EABL & Uchumi showing consumer purchasing power is dented. The Sanlam buy hype is overdone... Time will tell when 100 handle gets tested and lower. DTK too is displaying PAFR buy side weakness. Those chasing above 220... The pigs were being fattened for slaughter, going by the number of posts Wazuans must have jumped ship "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore** .
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mlennyma		#5 Posted : Saturday, August 09, 2014 7:46:08 AM
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi		The highier you climb,the louder the bang,lets wait to hear the falling sound. "Don't let the fear of losing be greater than the excitement of winning."
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whiteowl		#6 Posted : Saturday, August 09, 2014 10:24:47 AM
Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove		I jumped out of this ship when it zoomed past 120 so I'll watch the show from the sidelines
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mlennyma		#7 Posted : Saturday, August 09, 2014 3:12:55 PM
Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi		I hope cfci doesnt copy this bad behaviour. "Don't let the fear of losing be greater than the excitement of winning."
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uchumi		#8 Posted : Saturday, August 09, 2014 3:20:48 PM
Rank: Member Joined: 9/16/2006 Posts: 234		Expect good results from cfci “I don’t regret the things I’ve done, I regret the things I didn’t do when I had the chance.”
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Mart_Consult		#9 Posted : Saturday, August 09, 2014 7:38:11 PM
Rank: Member Joined: 11/7/2013 Posts: 127 Location: Nairobi, Kenya		uchumi wrote: Expect good results from cfci Roger that... I went into the (Ferry) industry knowing the same thing I knew with all other businesses I went into- Nothing. Then I built it from there. - Sheldon Adelson (Titans at the Table- Giants of Macau)
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mibbz		#10 Posted : Monday, August 11, 2014 1:09:37 AM
Rank: Member Joined: 2/18/2011 Posts: 448		I was in this bandwagon but I jumped ship with slightly over 100% gain;I still believe insurance in Kenya are good M&A targets for multi-nationals buying the africa rising hype.But am looking more towards CIC,Britam or UAP as they are largely indigenous companies with individual shareholders holding blocks of stocks.
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